Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Congress Asset Management Co. MA

Congress Asset Management Co. MA lowered its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,156 shares of the apparel retailer’s stock after selling 754 shares during the period. Congress Asset Management Co. MA’s holdings in Lululemon Athletica were worth $17,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley National Advisers Inc. raised its holdings in shares of Lululemon Athletica by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Tidemark LLC purchased a new position in shares of Lululemon Athletica during the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth about $26,000. Morton Brown Family Wealth LLC acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth about $31,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Lululemon Athletica during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were bought at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at $194,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Trading Down 0.5 %

Shares of Lululemon Athletica stock traded down $1.48 during trading hours on Friday, reaching $306.01. The stock had a trading volume of 1,472,697 shares, compared to its average volume of 3,582,924. The firm has a 50 day simple moving average of $334.65 and a two-hundred day simple moving average of $418.53. The firm has a market capitalization of $38.56 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.39 and a beta of 1.27. Lululemon Athletica Inc. has a 1 year low of $293.03 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Wednesday, June 5th. The apparel retailer reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.20 billion. Lululemon Athletica had a return on equity of 42.64% and a net margin of 16.09%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $2.28 EPS. Sell-side analysts forecast that Lululemon Athletica Inc. will post 14.29 EPS for the current year.

Lululemon Athletica announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the apparel retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Telsey Advisory Group lowered their price objective on Lululemon Athletica from $550.00 to $470.00 and set an “outperform” rating for the company in a research report on Thursday, June 6th. Robert W. Baird cut their price target on Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Wells Fargo & Company cut their price target on Lululemon Athletica from $425.00 to $350.00 and set an “equal weight” rating for the company in a research note on Thursday, June 6th. Barclays dropped their price objective on Lululemon Athletica from $395.00 to $338.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. Finally, TD Cowen upped their price objective on Lululemon Athletica from $437.00 to $447.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $433.06.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.